Genco declares $0.78 Q3 dividend (+56% QoQ); net income $40.8M, TCE $23,624/day

GENCO SHIPPING & TRADING LTD

2022-Q3 EPS reported $3.03 revenue$409,961,000

Declared $0.78/share Q3 dividend, 56% increase from Q2; payable Nov 28 to holders of record Nov 21.
Net income $40.8M ($0.96 EPS); adjusted net income $42.7M ($1.00 EPS); voyage revenues $136.0M.
Q3 TCE $23,624/day (sixth straight quarter above $20k); estimated Q4 TCE $20,451 for 77% of fleet days.
Debt reduced to $179.8M after $8.75M prepay; net loan-to-value 11%; liquidity $287.4M.
YTD net income $129.9M; revenues $410.0M; cumulative dividends $2.74/share over last four quarters.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENCO SHIPPING & TRADING LTD reported the three months and nine months ended September 30, 2022 results: net income Net income of $40.8 million, EPS $0.96 and $0.95.

Period: the three months and nine months ended September 30, 2022
Net income: Net income of $40.8 million
EPS: $0.96 and $0.95
Result: reported results

Exact text from the filing

recorded net income of $40.8 million for the third quarter of 2022 o Basic and diluted earnings per share of $0.96 and $0.95, respectively

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Source: SEC EDGAR

accession 0001140361-22-040715

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